Investment Properties: 222 & 224 Borough High Street, London SE1 1JX
222 & 224 Borough High Street, London SE1 1JX
OIEO £2,275,000 subject to contract - Leasehold
- Opportunity to acquire a prime London retail investment in a major growth location.
- Located in the dynamic Southbank area of London less than 5 minutes-walk from Borough Market and London Bridge Underground Station.
- Situated in a highly prominent position fronting Borough High Street adjacent to Borough Underground Station.
- Newly converted retail and residential building.
- Virtual Freehold of the ground floor and basement for a term of 999 years at a peppercorn from completion.
- The investment provides highly secure income.
- Let to Pret a Manger (Europe) Limited – Dun & Bradstreet 5A 1.
- 15 years term certain from practical completion in December 2018.
- The rental income will be £110,000 per annum.
- We are instructed to seek offers in excess of £2,275,000 (Two million, two hundred and seventy-five thousand pounds), subject to contract.
- This reflects a Net Initial Yield of 4.50%, based on purchasers’ costs of 6.34%, and a Capital Value of £837 per sq ft.
- The residential element of the property can be made available by separate negotiation. Further details available upon request.